Soybeans are up 3 to 4 cents across the nearbys on Thursday AM trade. Futures were back and forth on Wednesday, with contracts steady to fractionally higher at the close. Preliminary open interest was down 10,590 contracts on Wednesday, mostly in the November, dropping 18,472 contracts. The cmdtyView national average Cash Bean price was 1/4 cent higher at $9.32 3/4. Soymeal futures were up $1.10 to $1.60 at the close, with Soy Oil 23 to 28 points higher in the nearbys
NOPA data from Wednesday morning showed 197.86 million bushels of soybeans crushed during September, well above the 186.34 mbu estimate. That was a 4.24% increase from August and 11.59% larger than last year’s September record. Soybean oil stocks were 0.17% below the end of August at 1.24 billion lbs, which was also 16.6% above last year.
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Export Sales data will not be published on the holiday delayed Friday release due to the government shutdown. Still, traders were looking for between 0.4 and 1.4 MMT in soybean sales in the week of October 9. Bean meal sales were seen at 150,000-400,000 MT, with soy oil in between 5,000 and 30,000 MT.
Nov 25 Soybeans closed at $10.06 1/2, unch, currently up 3 3/4 cents
Nearby Cash was $9.32 3/4, up 1/4 cent,
Jan 26 Soybeans closed at $10.24 1/4, unch, currently up 4 cents
Mar 26 Soybeans closed at $10.39 3/4, up 1/4 cent, currently up 4 cents
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